$BTC

Market Analysis

June 5, 2024

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⚪️TECHNICAL (4H)

Bitcoin has surged as anticipated following the breakout and successful retest of the bullish pennant. Currently, it might retest the horizontal support level. We can expect the bullish trend to continue either from the current level or after the retest of the horizontal support, as long as we do not witness a high-volume bearish move.

⚪️WRAP-UP (VIP)

BTC surged as expected after breaking out and successfully retesting the bullish pennant. It may now retest horizontal support. We anticipate the bullish trend will continue unless there is a high-volume bearish move.

$BTC DAILY RANGE:

📈Upper Limit: 71500

📉Lower Limit: 68600

(+-12% based on moving average volatility open/endpoints)

📌SCALP ENTRIES (VIP)

(*Advanced traders only - moderate/high risk)

🔵LONG

💲68500

🔴SHORT

💲74000

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